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[August 2007]
Minteq International Increases Monolithic Refractory Product Prices
Minteq International Inc (New York, USA) has announced that effective with shipments on or after 1 September 2007, or as permitted by current contracts, prices for its monolithic refractory products will increase from between 7% and 15% depending on grade. This price increase applies to all regions of the world where Minteq does business. Minteq's monolithic refractory products are used primarily in the steel industry for the repair and maintenance of steel-making furnaces.The company explained that its ongoing productivity initiatives had been successful in partially offsetting manufacturing cost increases associated primarily with raw material costs and rising ocean freight and domestic transportation costs. However, in 2007, prices for certain raw materials such as magnesia and alumina-based raw materials have increased to unprecedented levels. These raw material cost increases are primarily the result of recent changes in China's export policy, including elimination of tax rebates and subsidies, imposition of new taxes on exports and a reduction in the number of export licences. Minteq will be monitoring the Chinese magnesia supply situation closely and may need to apply further price increases if magnesia prices continue to rise over the next several months, added the company.
Minteq manufactures monolithic refractories for the iron, steel, non-ferrous metals, minerals processing and glass markets and metallurgical wire for the steel market. Combined with its application systems and measurement technology, Minteq products and systems help manufacturers increase productivity and lower overall costs.
www.mineralstech.com
ENDS